News
A clear victory for justice over greed says Apil
The insurance industry’s failure in Grieves v others to overturn the law and abolish compensation for pleural plaques is a clear victory for justice over greed, according to Colin Ettinger, president of the Association of Personal Injury Lawyers.
Amicus pleased with verdict on pleural plaques
Amicus has said it will welcome today's high court judgement, which sees insurers fail in their attempt to shirk their responsibility to compensate up to 75% of asbestos claims.
Insurers fail in bid to stop compensation for pleural plaques
Insurers have failed in their attempt to evade responsibility for compensating thousands of victims of asbestos exposure according to a landmark judgment in a test case announced today in the High Court in Newcastle Upon Tyne.
Moody's comments on new look Axa
Moody's has affirmed with a stable outlook Axa's debt ratings (senior at A2), as well as the Aa3 insurance financial strength ratings of Axa's main operating subsidiaries, saying that the group's refocusing and rationalization efforts deployed in recent…
Scor premiums down for 2004
Scor group’s gross written premiums for the 2004 financial year amounted to €2578m at constant exchange rates, down 30.2% compared to 2003.
Rubicon founder steps down after new cash injection
Outsourcing group the Rubicon Corporation today announced that it has successfully completed its second stage financing and has secured the required level of funding to support the business's continued growth. Concurrent with the fundraising founder Max…
Zurich in Easy insurance deal
Zurich has signed a deal with the Easy Group to sell low cost car insurance via the internet.
AIG issues Spitzer update
American International Group (AIG) has issued a statement regarding subpoenas received from the Office of the Attorney General for the State of New York and the Securities and Exchange Commission.
Top 250 brokers see slow in growth
Cornell Consulting's respected annual review of distribution in the UK commercial market estimates that growth for the Top 250 independent brokers slowed to 9% in 2004. This, says the report, is the lowest growth since 1999 and reflects the softening…
Swiss Re announces good renewals
Swiss Re’s continued focus on profitable underwriting achieved attractive rates in the January renewal. Premium volume decreased slightly by 2%.
Navigant Consulting acquires Casas, Benjamin & White
Dispute, financial, regulatory advisory firm Navigant Consulting has acquired independent financial advisory Casas, Benjamin & White
Towry Law expands PI team
Scott Farrell has joined Towry Law Professions this week as senior account handler, from Hanover Park Commercial.
Helphire hire IT head
Helphire Group has appointed Richard Edwards as IT managing director.
Rehab integrated into DAS claims process
Legal expenses insurer DAS has extended its relationship with Medcare to offer almost all injured motorists whose claims are pursued rehabilitation treatment, after defendant insurers’ requests.
82% achieve CII exam pass
Twelve months on from its introduction the number of holders of the CII’s new Certificate in Insurance has grown to 2250.
AIA welcomes Class Action Fairness Act
The American Insurance Association (AIA) has welcomed the passage of the Class Action Fairness Act (S.5) in the US Senate.
Odyssey Re reports 2004 results
Odyssey Re has reported its fourth quarter and full year 2004 results.
Willis Q4 income falls
Willis Group Holdings has echoed rival Aon's sentiments yesterday by declaring the firm continues to grow in the absence of contingent commission income.
Moody’s rating for Sompo Japan unchanged
Moody's Investors Service has affirmed Sompo Japan’s Aa3 insurance financial strength rating (IFSR) and Sompo Japan Financial Guarantee Insurance’s Aa3 IFSR.
Architects' PI scheme relaunched
The RIBA Insurance Agency, a division of Heath Lambert Group, announces that it is extending its relationship with The Royal Institute of British Architects and re-launching its professional indemnity insurance offering.
AIG reports record income
American International Group today reported that its net income for the full year 2004 increased 19.1 percent to a record $11.05 billion , compared to $9.27 billion or $3.52 per share in 2003.
2004 a record year for US P/C losses
US property/casualty insurers paid a record $27.3bn for insured property losses to homeowners and businesses from 22 catastrophic events last year — surpassing losses from 2001 that included the September 11 attack — according to estimates by ISO’s…
Converium appoints interim CFO
The Board of Directors of Converium Holding has agreed to the appointment of Andreas Zdrenyk as interim chief financial officer of the company following Martin Kauer's scheduled departure on February 28, 2005. Converium's search for a successor to Martin…
FSSC consults on standards
The Financial Services Skills Council is launching a month-long consultation process on 9 February t...